Channel Wealth LLC Has $2.83 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Channel Wealth LLC trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,205 shares of the company's stock after selling 2,532 shares during the quarter. Channel Wealth LLC's holdings in McKesson were worth $2,830,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc acquired a new position in shares of McKesson during the 4th quarter worth approximately $34,000. Graney & King LLC purchased a new position in shares of McKesson during the 4th quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the 4th quarter valued at $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Rodgers sold 510 shares of McKesson stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the sale, the executive vice president now owns 5,435 shares in the company, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,747 shares of company stock valued at $9,852,587 in the last quarter. Company insiders own 0.11% of the company's stock.

McKesson Stock Up 0.2%

Shares of MCK traded up $1.39 on Friday, hitting $712.99. 544,199 shares of the stock traded hands, compared to its average volume of 914,797. The firm has a market capitalization of $89.20 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The stock's 50 day moving average is $698.91 and its two-hundred day moving average is $640.44.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the business posted $6.18 earnings per share. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Analysts Set New Price Targets

MCK has been the topic of several research reports. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $692.46.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.